Trump Administration Policies and Potential Impacts on Markets
Relative to the outgoing Biden Administration, the incoming Trump Administration has discussed implementing significantly different policies across immigration, tariffs, taxes, and regulations. With control of both houses of Congress (albeit with a razor-thin majority in the House of Representatives
Actionable Investment Opportunities
Investment opportunities include adding duration to fixed-income holdings and exploring private equity and credit strategies. Our report highlights the potential for bond price appreciation and attractive returns from private credit, providing guidance on optimizing portfolio allocations in the curr
Alternatives & Private Investments
Hedge funds saw gains in Q3, led by long-short equity and convertible arbitrage, while commercial real estate struggled with declining values for six straight quarters, despite some stabilization signs. Private equity deal activity rebounded sharply, though exit volumes lagged behind peak years. Ven
Fixed Income Markets
U.S. government and investment-grade corporate bonds saw significant appreciation in Q3, as interest rates declined. The Barclays US Aggregate Index rose 5.2% for the quarter, leading to a 3.0% YTD gain. U.S. Treasury yields dropped by 60 basis points (10-year) and 110 basis points (2-year) in Q3, r
Equity Markets
Global equities, as measured by the ACWI Index, advanced 6.6% in Q3, bringing YTD gains to 18.8% through October 11. Gains were broad-based, with emerging markets (+8.7%) and international developed equities (+7.3%) outperforming U.S. stocks (+5.8%). Emerging markets were notably boosted by a sharp
